Advertisement
Singapore markets closed
  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     
  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     
  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     
  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     
  • Bitcoin USD

    60,751.51
    -2,021.54 (-3.22%)
     
  • CMC Crypto 200

    1,258.38
    -99.63 (-7.33%)
     
  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     
  • Dow

    39,512.84
    +125.08 (+0.32%)
     
  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     
  • Gold

    2,366.90
    +26.60 (+1.14%)
     
  • Crude Oil

    78.20
    -1.06 (-1.34%)
     
  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     
  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     
  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     
  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

EUR/JPY Ranging Constriction Prior to Breakout

Hi traders,

The EUR/JPY is trapped within a constriction pattern (rectangle and triangle) and breakout could be expected. Pay attention to levels below.

The price is trying to push above H4 BB Upper Band / D H3 Cam but at the same time, it is also close to H4 BB Middle Band / D L3 Cam pivot. A breakout above 129.05 will target 129.25. The price needs to break that level in order to proceed towards 129.40 and 129.72. A breakout below 128.30 will target 127.95 and 127.82. Only a breakout below 127.80 will target 127.03.

{alt}
{alt}

For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX

ADVERTISEMENT

This article was originally posted on FX Empire

More From FXEMPIRE: